**Key Points:**

– **Early 2023 has not been kind to startups in the Pacific Northwest (PNW).** Compared to the same period last year, startup funding has dropped 80% from $1.2 billion to a meagre $246 million. Looks like the land of Nirvana, grunge and Bigfoot is playing a sad song for its startups.
– **All is not lost though.** Fuse, a venture capital firm based in the rainy city of Bellevue, Washington, believes the PNW could soon be ringing the cash register again. Clearly, they’ve got a thing for damp squib startups who’re in dire need of some dry-cleaning…I mean financing.
– **Fuse is rallying behind PNW companies.** Their focus is early-stage ventures that have survived the funding downfall and are ready to rise, phoenix-like, from the ashes of its burnt cash.

PNW Startups: A Drop in Funding but Not in Spirits

First-quarter Funding Falls, But Fuse Foresees a Comeback

Fuse—The Beacon of Hope in PNW’s Rainy Funding Landscape

The headlines might suggest that the start-up scene in the PNW is as gloomy as its infamous rainy days. But does that mean the spirit is as soggy as a Seattle sandwich? Far from it! The startup scene, like the stubborn weather, refuses to be predictable or fall into desolation. While there’s a thunderstorm in funding at present, there’s also a forecast for recovery. As someone rooting for them, I say, bring on the thunder, the lightning, and the rain, because it’s darkest before the dawn. Plus, it gives startups a chance to use their freebies – branded raincoats and umbrellas! Here’s to Fuse igniting a funding flame amidst the showers!! Roll on the resurgence!

Original Article: https://techcrunch.com/2023/09/25/vc-firm-fuse-closes-250m-fund-to-invest-in-pacific-northwest-startups/